Reference Points for CB Richard Ellis

Published on Friday, 12 March 2010 08:33 Written by Christopher Lynn

New York, March 12th (TradersHuddle.com) - Shares of CB Richard Ellis Group, Inc. (NYSE:CBG) closed the trading day at $13.83 very close to its 50 day moving average currently set at $13.31. CB Richard Ellis' price action is just above this important support level translating into a trading opportunity.

CB Richard Ellis Group, Inc. (NYSE:CBG) is a global commercial real estate services firm. The Company offer services such as advice and execution assistance for property leasing and sales, forecasting, and valuations.

Looking at peaks and troughs horizontal support and resistance levels, we can see current calculated support at $12.70 and calculated resistance at $14.33. These levels should also be evaluated by traders when planning their trades, as they provide an insight into the latest price action.

Traders wanting to establish a position on CB Richard Ellis will be looking at the price action for evidence of buying near the 50 day moving average, and opening a position as close as possible to this important level. Also traders will be looking at the latest price action, via the stocks current range previously defined for insights of other ley levels that might affect their upside or downside.